Mark W. Jenkins, serving as the Chief Financial Officer for Carvana Co. (NASDAQ: CVNA), executed a series of transactions involving the company's Class A Common Stock on July 1, 2026. The financial activities centered around the sale of 63,750 shares, which generated approximately $4.36 million in proceeds. The execution of these sales occurred within a price range of $65.18 to $70.43 per share. These transactions were facilitated under a pre-arranged Rule 10b5-1 trading plan, which Jenkins originally adopted on August 5, 2024. At the time of the report, the stock was trading at $68.60, a figure that reflects the asset's characteristic volatility, evidenced by a beta of 3.45.
In conjunction with the sales, Jenkins acquired 63,750 shares of Class A Common Stock through the exercise of stock options. The acquisition was executed at exercise prices ranging from $2.01 to $10.39 per share, resulting in a total cost of approximately $223,562. These option exercises were integrated into the same Rule 10b5-1 plan established in 2024. Additionally, a separate transaction involved the disposition of 7,014 shares to cover tax obligations associated with the vesting of restricted stock units. This specific disposition was valued at approximately $476,040, based on a price of $67.87 per share.
Following these reported transactions, Jenkins maintains a direct holding of 1,029,580 shares of Carvana Co. Class A Common Stock. The company has demonstrated significant momentum, characterized by revenue growth of 52% over the last twelve months and profitability of $1.71 per share. According to InvestingPro analysis, the stock is currently trading near its Fair Value. Investors can access comprehensive insights through the platform’s Pro Research Report, which is available for CVNA and over 1,400 other US equities.
In the broader automotive retail sector, CarMax reported first-quarter fiscal 2027 sales of $8.12 billion, representing a 6.2% increase from the previous year. This performance exceeded both the Street estimate of $7.27 billion and BofA’s estimate of $7.41 billion. Earnings per share for CarMax reached $1.31, surpassing the analyst estimate of $0.96, with revenue hitting $8 billion, above the consensus estimate of $7.39 billion. Following these results, BofA Securities raised its price target for CarMax to $45 from $40, while maintaining an Underperform rating.
Carvana has announced plans to integrate Inspection and Reconditioning Center capabilities into its ADESA Sarasota wholesale auction facility, a move expected to create approximately 100 jobs. RBC Capital adjusted its price target for Carvana to $85 from $92, maintaining an Outperform rating. The adjustment cites aggressive market share gain expectations for 2026 and 2027. Additionally, ADESA, a Carvana subsidiary, launched ADESA Timed, a self-service digital auction platform for wholesale vehicle sellers. This platform allows sellers, such as financial institutions and rental companies, to list inventory directly on the digital auction system.
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